Military-ruled Myanmar earned US$800 million from natural gas exports mainly to China and Thailand between April and July, the junta said in the state newspaper on Thursday. The country has been embroiled in chaos since the military overthrew an elected government in a coup early last year and the economy has all but collapsed. The […]
Read MoreMyanmar merchants who trade goods across the border with China say their country’s kyat has depreciated so much relative to the Chinese yuan that they are no longer able to stay in business. The traders typically export agricultural and fisheries products to China and import Chinese consumer and industrial goods and food products to Myanmar. […]
Read MoreMilitary-ruled Myanmar plans to import Russian gasoline and fuel oil to ease supply concerns and rising prices, a junta spokesperson said, the latest developing country to do so amid a global energy crisis. The country has maintained friendly ties with Russia, even as both remain under sanctions from Western countries — Myanmar for the military coup that […]
Read MoreMyanmar’s central bank weakened its kyat currency from 1,850 to 2,100 per dollar on Monday, according to a statement published in a state newspaper. Myanmar’s economy has collapsed since the military seized power last year, halting a decade of reforms, putting pressure on the kyat’s value against the dollar, and driving up fuel and food […]
Read MoreEmployment remains well below 2020 levels while productivity levels contract further and job quality deteriorates. BANGKOK, Thailand (ILO news) – Myanmar remains deeply affected by heavy job losses 18 months after the military takeover on 1 February 2021 and two and a half years into the global pandemic, according to new estimates released by the […]
Read MoreMyanmar has sufficient foreign reserves to avoid an economic crisis similar to Sri Lanka’s, the military government said, pushing back on suggestions by some analysts that the Southeast Asian nation faces a growing possibility of default. Maj Gen Zaw Min Tun, a spokesman for the State Administration Council, said at a press conference on Tuesday […]
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